NCIC(SZ:002246)2016-04-14 16:00Financial Performance - The company's operating revenue for 2015 was ¥1,504,869,617.59, a decrease of 26.09% compared to ¥2,036,032,841.76 in 2014[18]. - The net profit attributable to shareholders for 2015 was ¥54,864,865.59, down 24.73% from ¥72,889,698.29 in 2014[18]. - The net cash flow from operating activities decreased by 46.02% to ¥84,783,692.39 in 2015 from ¥157,061,161.05 in 2014[18]. - The total assets at the end of 2015 were ¥1,591,171,781.84, a decline of 3.78% from ¥1,653,746,549.71 at the end of 2014[19]. - The net assets attributable to shareholders increased by 3.76% to ¥1,151,344,018.21 at the end of 2015 from ¥1,109,667,863.47 at the end of 2014[19]. - The basic earnings per share for 2015 were ¥0.13, a decrease of 27.78% from ¥0.18 in 2014[18]. - The company achieved an operating revenue of 150,487 million yuan, a year-on-year decrease of 26.09%[38]. - The net profit attributable to shareholders was 5,486 million yuan, down 24.73% year-on-year[38]. - The cash flow from operating activities was 8,478 million yuan, a decrease of 7,228 million yuan compared to the previous year[38]. - The total operating cost for 2015 was ¥1,231,137,359.34, down 29.24% from ¥1,739,865,742.54 in 2014[57]. Market Position and Strategy - The company maintained a market share of 60% in the domestic nitrocellulose market and 25% globally in 2015[30]. - The company is actively pursuing an "internationalization and high-end" business strategy to capture incremental market opportunities and strengthen its market position in nitrocellulose products[4]. - The company is closely monitoring market dynamics related to its industrial pump investment projects to maximize their effectiveness[4]. - The company is committed to maintaining a leading position in the nitrocellulose industry and the domestic market for special industrial pumps through innovation and internationalization strategies[98]. - The company plans to enhance its market operation capabilities by expanding both domestic and international markets for nitrocellulose and improving logistics efficiency[99]. Research and Development - The company invested 44.83 million yuan in independent research and development, a year-on-year increase of approximately 4.98%[42]. - The company completed 15 research projects in 2015, with 57 patent applications filed and 23 patents granted, both reaching historical highs[42]. - The company developed 34 new pump models and modified 58 existing models, with 8 technology projects submitted for approval[31]. - The company has made significant progress in R&D projects aimed at high-end market expansion, including new cellulose ether products[69]. - The company is developing new products including a new type of slurry pump and a large-capacity desulfurization pump to enhance market competitiveness[70]. Environmental and Regulatory Compliance - The company has implemented energy-saving and emission-reduction measures, ensuring that all pollutants meet discharge standards[5]. - The company is focusing on enhancing its pollution prevention technology and improving clean production levels to mitigate environmental risks[5]. - The company is actively addressing environmental risks by improving its environmental management system and exploring clean production technologies[106]. - The company is not classified as a heavily polluting industry by the national environmental protection department[155]. Shareholder and Dividend Policy - The company reported a cash dividend of 0.20 RMB per 10 shares, based on a total of 413,686,536 shares[7]. - The proposed cash dividend for 2015 is 0.20 CNY per 10 shares, totaling 8,273,730.72 CNY, which represents 15.08% of the net profit attributable to shareholders[126]. - The total distributable profit at the end of 2015 was 102,220,541.12 CNY after accounting for previous distributions and legal reserves[125]. - The cash dividend policy stipulates that at least 10% of the distributable profit for the year must be distributed in cash, with a cumulative distribution of at least 30% of the average annual distributable profit over any three consecutive years[118]. - The company emphasizes the protection of minority shareholders' rights in its profit distribution decisions[122]. Asset Restructuring and Investments - The company is undergoing a significant asset restructuring, which is progressing normally but still requires further communication and approvals from relevant government departments[6]. - The company is actively pursuing major asset restructuring, including the acquisition of a 52% stake in Shanghai Huiguang Fine Chemical Co., Ltd.[45]. - The company transferred 35% equity of its subsidiary Guangzhou Beihua to its controlling shareholder, reducing its stake from 45% to 10%[28]. - The company transferred its 35% stake in Guangzhou Beihua to its controlling shareholder to reduce related party transactions[45]. Challenges and Market Conditions - The company is facing market risks due to weak demand for nitrocellulose products and intensified competition, which may suppress product prices[4]. - The company has faced challenges in achieving expected sales and revenue due to macroeconomic slowdown and market demand weakness[82]. - The company anticipates a slight decline in the nitrocellulose market in 2016, while the special industrial pump market is expected to remain stable[97]. - The company faced challenges due to macroeconomic slowdown, affecting demand in key sectors such as oil, chemicals, and mining, leading to insufficient product orders[86]. Governance and Management - The company has established a clear and effective supervisory board with three supervisors, ensuring compliance with internal regulations and effective oversight of major matters and financial conditions[196]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards[194]. - The company maintains independence from its controlling shareholder, with a complete separation in operations, assets, and finances[194]. - The company has implemented a robust internal control system to enhance governance and protect investor interests[192]. Employee and Organizational Structure - The total number of employees in the company is 2,119, with 1,106 in the parent company and 1,013 in major subsidiaries[186]. - The employee composition includes 1,604 production personnel, 171 sales personnel, 198 technical personnel, 27 financial personnel, and 119 administrative personnel[187]. - The salary policy emphasizes competitive compensation based on performance, with a focus on rewarding contributions and encouraging innovation among technical staff[188]. - The company has established a systematic training program to enhance employee skills, covering various management and professional training areas[189].